Oil prices fell in early trading on Thursday after the US and Iran signed an interim agreement that would end the Iran war, reopen the Strait of Hormuz and waive US sanctions on Tehran’s oil, resolving the largest energy supply disruption in history. Brent crude futures were down 89 cents, or 1.12%, at $78.66 a barrel as of 0005 GMT, and US West Texas Intermediate fell 98 cents, or 1.28%, to
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced on Thursday the suspension of the proposed 5% tariff increase by the Karachi Port Trust (KPT) for the fiscal year 2026–27. As per a statement, the minister said the decision will provide overall relief of more than Rs500 million to importers, exporters, and the general public. “The decision is in line with the fed
easypaisa digital bank, backed by Telenor and Ant Group, has signed a Memorandum of Understanding (MoU) with Binance, the world’s leading blockchain ecosystem and cryptocurrency exchange, to explore the adoption and growth of emerging financial technologies in Pakistan. The MoU was signed in Islamabad between Jahanzeb Khan, President and CEO of easypaisa digital bank, and Tarik Erk, Regional He
Pakistan is intensifying its drive to develop a domestic electric vehicle (EV) manufacturing ecosystem as Chinese auto giant BYD Group moves ahead with plans to expand its local production facility and deepen localisation in partnership with Mega Motor Company. The development came to light during a meeting between Finance Minister Muhammad Aurangzeb and a delegation of BYD Group and Mega Motor
Oil prices in Pakistan are expected to decline significantly after Prime Minister Shehbaz Sharif directed authorities to immediately pass on the benefit of falling international crude prices to consumers, prompting the government to form a high-level committee to develop a transparent weekly mechanism for determining petroleum product prices, Petroleum Minister Ali Pervaiz Malik said on Thursday.